13 Jul 2015
GBP/USD holds above 1.55
FXStreet (Mumbai) - The GBP/USD pair managed to hold above 1.55 levels even as Greek talks dragged on and the Fed chair Yellen on Friday reiterated possibility of a rate hike this year.
Spot trades below hourly 200-MA
The spot currently trades below hourly 200-MA currently located at 1.5523. Fed chair Yellen sounded optimistic on Friday and said the central bank is encouraged by “tentative hints of a pickup in the pace of wage gains.”
Meanwhile, Greek talks dragged as another deadline on Sunday was missed. Greek has been offered a new three-day deadline in order to pass more tougher reforms. With no major UK data due for release today, the Greek issue is likely to remain in the spotlight.
GBP/USD Technical Levels
The spot currently trades around 1.5510. The immediate support is seen at 1.55, under which the pair could target 1.5460 (61.8% Fib R of June rally). On the other hand, a break above 1.5523 (hourly 200-MA) could see the pair rise to 1.5510 (50% Fib R of June rally).
Spot trades below hourly 200-MA
The spot currently trades below hourly 200-MA currently located at 1.5523. Fed chair Yellen sounded optimistic on Friday and said the central bank is encouraged by “tentative hints of a pickup in the pace of wage gains.”
Meanwhile, Greek talks dragged as another deadline on Sunday was missed. Greek has been offered a new three-day deadline in order to pass more tougher reforms. With no major UK data due for release today, the Greek issue is likely to remain in the spotlight.
GBP/USD Technical Levels
The spot currently trades around 1.5510. The immediate support is seen at 1.55, under which the pair could target 1.5460 (61.8% Fib R of June rally). On the other hand, a break above 1.5523 (hourly 200-MA) could see the pair rise to 1.5510 (50% Fib R of June rally).